Envestnet Portfolio Solutions Inc. Lowers Position in Sun Communities, Inc. $SUI

Envestnet Portfolio Solutions Inc. trimmed its stake in Sun Communities, Inc. (NYSE:SUI) by 35.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,367 shares of the real estate investment trust’s stock after selling 1,316 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Sun Communities were worth $299,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Twin Tree Management LP purchased a new stake in Sun Communities in the first quarter valued at approximately $29,000. Ransom Advisory Ltd purchased a new stake in Sun Communities in the first quarter valued at approximately $31,000. GKV Capital Management Co. Inc. purchased a new stake in Sun Communities in the first quarter valued at approximately $42,000. V Square Quantitative Management LLC purchased a new stake in Sun Communities in the second quarter valued at approximately $47,000. Finally, Avalon Trust Co purchased a new stake in Sun Communities in the first quarter valued at approximately $65,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Sun Communities Trading Down 1.9%

NYSE SUI opened at $123.27 on Friday. The company’s fifty day simple moving average is $126.89 and its 200-day simple moving average is $125.08. Sun Communities, Inc. has a 52 week low of $109.22 and a 52 week high of $140.49. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.55. The stock has a market cap of $15.43 billion, a P/E ratio of 12.06, a PEG ratio of 6.46 and a beta of 0.86.

Sun Communities (NYSE:SUI) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. Sun Communities had a net margin of 48.86% and a negative return on equity of 0.60%. The business had revenue of $623.50 million for the quarter, compared to analysts’ expectations of $614.79 million. During the same period in the previous year, the company posted $1.86 earnings per share. Sun Communities has set its FY 2025 guidance at 6.510-6.670 EPS. Q3 2025 guidance at 2.130-2.230 EPS. Equities research analysts predict that Sun Communities, Inc. will post 6.77 EPS for the current fiscal year.

Sun Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Sun Communities’s payout ratio is presently 40.70%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SUI shares. Weiss Ratings restated a “hold (c)” rating on shares of Sun Communities in a report on Wednesday, October 8th. Jefferies Financial Group raised shares of Sun Communities to a “strong-buy” rating in a research report on Monday. Wall Street Zen raised shares of Sun Communities from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Truist Financial lifted their price target on shares of Sun Communities from $137.00 to $141.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Evercore ISI lifted their price target on shares of Sun Communities from $136.00 to $138.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $137.86.

About Sun Communities

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.